Easing cost-of-living concerns sees increase in consumer confidence

Despite gains, confidence remains below the long-term average

'Positive momentum in Irish consumer sentiment suggests the possibility of an uplift in consumer spending in the second half of the year.' Picture: Gareth Chaney/ Collins

Irish consumer confidence improved to its best levels in two and a half years during the month of July as the economic outlook remained resilient and concerns around the cost of living begin to ease, the latest Credit Union Consumer Sentiment Survey shows.

The survey shows a sentiment index reading of 74.9 for July — up from 70.5 in June. Two solid monthly increases in June and July have been sufficient to bring Irish consumer sentiment to its strongest level since January 2022.